Economics Seminar（2015-15）
Topic: Quantifying the Premium Externality of the Uninsured
Speaker: Teng Sun
Affiliation:Stanford University
Time: Tuesday, June 30 from 2:00-3:30pm
Location: Room 217, Guanghua Building 2
Abstract:
In insurance markets, the uninsured can generate a negative externality on the insured, leading
insurance companies to charge higher premia. Using a novel panel data set and a staggered policy change that introduces exogenous variation in the rate of uninsured drivers at the county level in California, we nd that uninsured drivers lead to higher insurance premia: a 1 percentage point increase in the rate of uninsured drivers raises premia by roughly 1%. We calculate the monetary ne on the uninsured that would fully internalize the externality and conclude that actual nes in most US states are inef ciently low. (JEL: G22, H23)
Your participation is warmly welcomed!
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